Income Tax Slabs & Calculator 2023-24
Calculate income tax on your salary for tax year 2024 (1 July 2023 – 30 June 2024), using the slabs set by the Finance Act 2023.
This is a past tax year. For the current year, use the 2026-27 calculator.
Choose a tax year
01 Tax slabs
Income tax slabs 2023-24 for salaried individuals
Salaried individuals paid no income tax on annual taxable salary up to Rs 600,000 in 2023-24. Above that, tax rose in 5 slabs to a top rate of 35% on income above Rs 6,000,000.
Annual salary in lakh (L) or crore (Cr). Enter your salary to see your slab in gold.
| Annual taxable salary | Tax |
|---|---|
| Up to Rs 600,000 | 0% |
| Rs 600,001 – 1,200,000 | 2.5% of the amount above Rs 600,000 |
| Rs 1,200,001 – 2,400,000 | Rs 15,000 + 12.5% of the amount above Rs 1,200,000 |
| Rs 2,400,001 – 3,600,000 | Rs 165,000 + 22.5% of the amount above Rs 2,400,000 |
| Rs 3,600,001 – 6,000,000 | Rs 435,000 + 27.5% of the amount above Rs 3,600,000 |
| Above Rs 6,000,000 | Rs 1,095,000 + 35% of the amount above Rs 6,000,000 |
These slabs are from the First Schedule of the Income Tax Ordinance 2001 as it applied to tax year 2024. Your slab is highlighted once you enter your salary.
02 Changes
What changed in 2023-24
The first two slabs stayed the same in 2023-24, but rates rose for higher salaries and the 35% top rate started at Rs 6,000,000 instead of Rs 12,000,000.
Up to Rs 2,400,000
0%, 2.5%, 12.5% (no change)
Rs 2,400,001 – 3,600,000
20%22.5%
Rs 3,600,001 – 6,000,000
25%27.5%
Rs 6,000,001 – 12,000,000
32.5%35%
Where the 35% top rate starts
Rs 12,000,000Rs 6,000,000
Surcharge on tax
None (no change)
See the 2022-23 tax slabs Compare your salary across all years
03 Quick answers
Monthly salary tax table 2023-24
Monthly salaries up to Rs 50,000 were tax-free in 2023-24. The table shows tax and take-home pay for common salaries, and how much more or less tax each paid than in 2022-23.
For any other amount, use the calculator above.
| Monthly salary | Monthly tax | Take-home pay | Effective rate | Change vs 2022-23 |
|---|---|---|---|---|
| Rs 50,000 | Rs 0 | Rs 50,000 | 0% | — |
| Rs 75,000 | Rs 625 | Rs 74,375 | 0.8% | — |
| Rs 100,0001 lakh | Rs 1,250 | Rs 98,750 | 1.3% | — |
| Rs 150,0001.5 lakh | Rs 7,500 | Rs 142,500 | 5% | — |
| Rs 200,0002 lakh | Rs 13,750 | Rs 186,250 | 6.9% | — |
| Rs 300,0003 lakh | Rs 36,250 | Rs 263,750 | 12.1% | +Rs 2,500 |
| Rs 500,0005 lakh | Rs 91,250 | Rs 408,750 | 18.3% | +Rs 7,500 |
| Rs 1,000,00010 lakh | Rs 266,250 | Rs 733,750 | 26.6% | +Rs 20,000 |
04 At a glance
Key facts for tax year 2024 (2023-24)
Tax-free limit
Rs 600,000
a year (Rs 50,000 a month)
Top rate
35%
above Rs 6,000,000 a year
Salaried surcharge
None
in 2023-24
Tax year dates
1 July 2023
to 30 June 2024
Rates set by
Finance Act 2023
6 slabs, Rs 600,000 tax-free
05 Example
Worked example: Rs 150,000 salary in 2023-24
A monthly salary of Rs 150,000 is Rs 1,800,000 a year, which fell in the 12.5% slab in 2023-24.
Try it with your salaryTax on Rs 150,000 a month · 2023-24
- Annual salary
- Rs 1,800,000
- Amount above Rs 1,200,000
- Rs 600,000
- 12.5% of Rs 600,000
- Rs 75,000
- Add the fixed amount
- + Rs 15,000
- Tax a year
- Rs 90,000
- Monthly tax (÷ 12)
- Rs 7,500
- Monthly take-home pay
- Rs 142,500
06 Answers
Questions about 2023-24
Quick answers about salary tax in 2023-24. For your exact figure, use the calculator.
Calculate 2023-24 taxWhat was the tax-free salary limit in 2023-24?
Annual taxable salary up to Rs 600,000 was tax-free in 2023-24. That is Rs 50,000 a month. Tax applied only to the part of your salary above Rs 600,000.
How much tax was deducted from a Rs 100,000 salary in 2023-24?
On a monthly salary of Rs 100,000, the income tax was Rs 1,250 a month (Rs 15,000 a year) in 2023-24, leaving take-home pay of Rs 98,750. This assumes the whole salary was taxable.
Was there a surcharge on salaries in 2023-24?
No. There was no surcharge on salaried income in 2023-24.
Can I still file an income tax return for 2023-24?
Yes. You can file a return for a past tax year on FBR's IRIS portal. A penalty may apply for filing late, so it is best to file as soon as you can.
Sources and last update
- Finance Act 2023; Income Tax Ordinance 2001, First Schedule (table in force for tax year 2024)
- Income Tax Ordinance 2001, First Schedule, Part I, Division I
- Federal Board of Revenue (FBR)
Last reviewed: 7 November 2026. How we calculate
Results are estimates, not tax advice. For your exact tax, check your salary certificate or ask a tax professional.